Laserfiche WebLink
(iii) Not Used. <br />(iv) A policy of worker's compensation insurance if and as required by <br />applicable law and employer's liability insurance with limits of no less than <br />One Million and No/100 Dollars ($1,000,000.00). <br />(v) In the event Tenant acquires company automobiles, a policy of <br />comprehensive automobile liability insurance, including loading and <br />unloading and covering owned and hired vehicles with limits of no Tess <br />than One Million Dollars ($1,000,000.00) per occurrence. <br />(b) All insurance policies required under this Section 16 shall be with <br />companies having a rating according to Best's Insurance Key Rating Guide for Property Casualties of no less than A- Class VIII. Each policy shall provide that it is not subject to <br />cancellation, lapse or reduction in coverage except after thirty (30) days written notice to <br />Landlord. Tenant shall deliver to Landlord, prior to the commencement of its occupation of the <br />Leased Premises and, from time to time thereafter, at Landlord's request, certificates evidencing <br />the existence and amounts of all such policies and copies of such insurance policies. There shall <br />be no deductible amount applicable with respect to the Tenant's policy of commercial general <br />liability insurance, unless approved in advance by Landlord in writing Deductibles for Tenant's <br />'special form" property insurance shall be commercially reasonable and customary. There shall <br />be no self -insured retention with respect to the insurance requirements under this Section 16, <br />unless approved in advance in writing by Landlord in its sole discretion. <br />(c) If Tenant fails to acquire or maintain any insurance or provide evidence of <br />insurance required by this Section 16, Landlord may, but shall not be required to, obtain such <br />insurance or evidence and the costs associated with obtaining such insurance or evidence shall <br />be payable by Tenant to Landlord on demand together with a fee for overhead and administrative <br />expenses equal to 10% of such costs. <br />(d) Waiver of Subrogation. Landlord and Tenant each mutually release the <br />other from every right, claim and demand which may hereafter arise in favor of either arising out <br />of or in connection with any loss occasioned by fire, earthquake or other casualty and such other <br />perils as are included in the provisions of the normal extended coverage clauses of fire and <br />casualty insurance policies, and hereby waive all rights of subrogation in favor of insurance <br />carriers arising out of any such losses and sustained by either Landlord or Tenant in or to the <br />Leased Premises or any property therein, but only to the extent of deductibles specified in the <br />insurance policies plus the insurance proceeds paid to such party under its policies of insurance <br />or, if it fails to maintain the required policies, the insurance proceeds that would have been paid <br />to such party if it had maintained such policies. This waiver of subrogation shall be effective to a <br />person or entity even though that person or entity would otherwise have a duty of <br />indemnification, contractual or otherwise, whether or not the person or entity paid the insurance <br />10 <br />